Bid Summary
Columbia Savings Bank, Cincinnati, OH
Closing Date: May 23, 2014
| Bidder | Type of Transaction | Deposit Premium % | Asset Premium/ (Discount) $(000) (a) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional Loan Pool (% of BV) (b) | Optional OREO Pool (% of BV) (a)(b)(c) | Conforming Bid |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Winning Bid:
United Fidelity Bank, fsb, Evansville, IN | All deposit whole bank | 0.00 % | $(4,032) | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Cover Bid:
Ohio Valley Bank, Henderson, KY |
All Deposit Whole Bank | 0.00% | $(6,900) | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All deposit Whole Bank | 0.00% | $(4,032) | N/A | N/A | N/A | N/A | N/A | N/A | 68.60% | Yes |
| Other Bid: | All Deposit Basic P&A | 0.52% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | No |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(7,825) | N/A | N/A | N/A | N/A | N/A | N/A | 15.00% | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(9,455) | N/A | N/A | N/A | N/A | N/A | N/A | 25.00% | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(9,455) | N/A | N/A | N/A | N/A | N/A | N/A | No Bid | Yes |
| Other Bid: | All Deposit Whole Bank | 0.00% | $(10,749) | N/A | N/A | N/A | N/A | N/A | N/A | 64.00% | Yes |
(a) Whole Bank P&A bids have one discount amount. The OREO is bid separately.
(b) P&A with optional loan pool bids was not offered in the transaction.
(c) bids less than the optional OREO pool reserve price were not factored into the total bid cost.
Other Bidder Names & Locations:
CenterBank, Milford, OH
Foundation Bank, Cincinnati, OH
The First Capital Bank of Kentucky, Louisville, KY
United Fideilty Bank, fsb, Evansville, IN
Notes:
- The winning bidder’s acquisition of all the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets. Bids for loss share, if any, were valued using a discounted cash flow analysis for the loss share portfolio over the life of the loss share agreement.
- The cover bid is the bid that: a. Is less costly than liquidation and b. Is the least costly bid after excluding all bids submitted by the winning bidder.
- There is no linkage between bidder names and bids, except in the case of the winning bid and the cover bid.
- There are more bids than bidders because one or more bidders submitted more than one bid.
- For more information on the bid disclosure policy, see https://www.fdic.gov/about/freedom/biddocs.html.